When combined with Austerity^TM in Europe my bets are that "the pulling of stimulus will only result in stagnation or kickstart us into another round of economic freefall. Only from a purely domestic point of view and for only the German economy could Austerity^TM be justified, and they have already been on that diet for several years. And we have not dealt with bad mortgage debt. The only way not dealing with mortgage debt could be sustainable in the long run would be for the world economy to boom, and even then it would likely be necessary to re-inflate the real estate bubble. As real estate continues to drop the debt overhang will continue to produce crises. Or is there something fundamental I am missing?

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."